CBS Corporation (NYSE:CBS) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 15,429,720 shares, a drop of 77.7% from the November 15th total of 69,281,182 shares. Based on an average trading volume of 12,312,480 shares, the short-interest ratio is presently 1.3 days. Currently, 4.4% of the company’s shares are sold short.

Several equities analysts recently issued reports on the company. Citigroup reiterated a “buy” rating and issued a $76.00 price target (up previously from $75.00) on shares of CBS in a report on Wednesday, August 23rd. Loop Capital restated a “buy” rating and set a $78.00 target price on shares of CBS in a report on Sunday, August 20th. Cowen restated a “buy” rating on shares of CBS in a report on Thursday, September 21st. Rosenblatt Securities restated a “buy” rating and set a $80.00 target price on shares of CBS in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Six analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $73.17.

In related news, Director Bruce S. Gordon sold 5,093 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $55.50, for a total value of $282,661.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total value of $4,917,250.00. Following the completion of the transaction, the chief executive officer now owns 884,513 shares in the company, valued at approximately $51,169,077.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 400,279 shares of company stock worth $23,293,978. 1.67% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp bought a new position in shares of CBS during the 2nd quarter valued at about $102,000. Parallel Advisors LLC raised its position in CBS by 42.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after buying an additional 532 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in CBS in the 2nd quarter valued at approximately $205,000. Griffin Asset Management Inc. acquired a new stake in CBS in the 2nd quarter valued at approximately $340,000. Finally, Benchmark Capital Advisors acquired a new stake in CBS in the 2nd quarter valued at approximately $357,000. Institutional investors and hedge funds own 74.83% of the company’s stock.

CBS (CBS) opened at $58.90 on Friday. CBS has a 1-year low of $52.75 and a 1-year high of $70.10. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03. The firm has a market capitalization of $23,570.48, a PE ratio of 13.70, a PEG ratio of 1.06 and a beta of 1.62.

CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. CBS had a return on equity of 58.49% and a net margin of 2.14%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the business posted $1.05 EPS. CBS’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts forecast that CBS will post 4.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Monday, December 11th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, December 8th. CBS’s dividend payout ratio (DPR) is presently 98.63%.

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CBS Company Profile

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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